OIL GAS RIG

Canadian oil company cuts more than $2 billion from 2015 budget

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It joins a slew of competitors of various sizes, from Marathon Oil to Continental Resources to ConocoPhillips, who have all cut their planned 2015 capital budgets as well.

Fairness Calls For a Thank You

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Since the first Arab oil embargo in 1973, every time the price of crude oil and gasoline has increased, so called consumer advocates and opportunistic politicians have accused oil companies of price gouging, price fixing and the like.  Over this time, the FTC has conducted numerous investigations of those charges and every investigation  has produced […]
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In this Jan. 8, 2015 photo, an environmentalist concerned about global warming wears a statement t-shirt at a public hearing in Eatontown, N.J. on a proposed offshore terminal for imports of liquefied natural gas. Liberty Natural Gas wants to build the facility off the coasts of New York and New Jersey. Business and labor groups support the plan, but environmentalists oppose it, saying it is really a plan to facilitate exports of natural gas obtained by hydraulic fracturing, a technique they oppose. (AP Photo/Wayne Parry)

Idea for gas terminal off East Coast rankles fracking foes

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Liberty Natural Gas wants to build a deep-water port in federal waters 19 miles off Jones Beach, New York, and 29 miles off Long Branch, New Jersey. Its stated purpose is to bring additional natural gas into the New York area during times of peak demand, thereby lowering home-heating prices.
KiOR's facility in Columbus, Miss. (KiOR)

KiOR says Miss. seeks to destroy it in court ploy

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Bankrupt biofuel maker KiOR and controlling shareholder Vinod Khosla say the state of Mississippi is using legal tactics in an attempt to squeeze money from the company.
Louisiana. Gov. Bobby Jindal and oil industry leaders condemned the suit as an attack on a vital industry. (AP Photo/ Richard Shiro)

Jindal appeals ‘Big Oil’ suit to high court

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A fight over whether oil companies may be sued over damage to Louisiana’s coastal marshes has been appealed to the state’s high court.
In this photo from Jan. 6, 2015, steam blows over the Green Plains ethanol plant in Shenandoah, Iowa. Roughly 100 trucks a day filled with corn flow into this ethanol plant in southwest Iowa even as crude oil prices continue to collapse. Oil prices may have dipped below $50 a barrel for the first time since April 2009, but ethanol plants across the nation continue to operate at a brisk pace in order to satisfy a domestic and export demand that hasn’t weakened. (AP Photo/Nati Harnik)

Oil could drive down ethanol profits, but industry shielded

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Oil prices may have dipped below $50 a barrel for the first time since April 2009, but ethanol plants across the nation continue to operate at a brisk pace in order to satisfy a domestic and export demand that hasn’t weakened.
In this picture released by the official website of the office of the Iranian supreme leader, Supreme Leader Ayatollah Ali Khamenei, from right, meets Venezuelan President Nicolas Maduro as Iranian President Hassan Rouhani sits next to them at Ayatollah Khamenei's residence in Tehran, Iran, Saturday, Jan. 10, 2015. A portrait of the late Iranian revolutionary founder Ayatollah Khomeini hangs on the wall. As Venezuelan President Maduro visits Iran, both countries have vowed to work together to stabilize falling global oil prices. (AP Photo/Office of the Iranian Supreme Leader)

Iran and Venezuela seek oil price stability

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Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon
(AP Photo/Richard Drew, File)

NY fracking ban seen as having little impact on supply

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Scientists say New York’s available reserves of natural gas in the sprawling Marcellus Shale are minuscule compared to what can be extracted in other states such as Pennsylvania and West Virginia.
(StockMonkeys.com/Flickr)

Appeals court won’t rehear a BP oil spill liability argument

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A federal appeals court has refused to reconsider its 2014 ruling that BP cannot avoid federal penalties for the 2010 Gulf of Mexico oil spill by blaming another company’s failed equipment.
President Barack Obama arrives at TransCanada's pipe yard in Cushing, Okla., in 2012. The southern leg of Keystone XL did not require State Department approval. (AP Photo/Pablo Martinez Monsivais, File)

Nebraska ruling upholds Keystone XL route

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The ruling now shifts attention to the nation’s capital, where the State Department, Congress and the White House all are playing a role in deciding whether TransCanada Corp. wins a permit to build the $8 billion border-crossing pipeline.